JPMORGAN, BLACKROCK, STATE STREET QUIT MAJOR CLIMATE ALLIANCE: HERE’S WHY
Tallahassee, Florida – JPMorgan Chase, BlackRock, and State Street Global Advisors are withdrawing from a United Nations climate alliance designed to combat global warming through corporate sustainability agreements, the companies announced Thursday. JPMorgan Chase cited the expansion of its in-house sustainability team and the establishment of its climate risk framework as reasons for exiting the Climate Action 100+ investor group. BlackRock and State Street, both managing trillions of dollars in assets, expressed concerns about potential …